Suzuki's Maverick Vinales will lead the second row, followed by Ducati's Andrea Dovizioso and Monster Yamaha Tech 3's Pol Espargaro.

Andrea Iannone will start from seventh place on the grid, while Dani Pedrosa, returning from a three-race lay-off, finished more than a second down on Honda partner Marquez to lie eighth.

The day belonged to Lorenzo, however, who has been quick throughout the week in Spain and showed that again on Saturday.

He flew out of the gate first up with a 1m29.849s – the first sub-1m30s MotoGP lap around the Valencia circuit – and followed that up shortly after with an even quicker 1m29.613s.

Marquez would close the gap to just 0.128s in the final five minutes of the session, setting his first sub-1m30s lap as well, but Lorenzo headed out on fresh rubber to set his fastest lap of the session and make sure of pole position in his final race for Yamaha before moving to Ducati.

Cal Crutchlow, meanwhile, was fastest in the first phase of qualifying, but couldn't recover from a crash at Turn 10 in the main session, eventually having to settle for 11th.

Aspar Ducati's Eugene Laverty will start his final MotoGP race in 19th place before joining the World Superbike Championship in 2017.